ROSEMONT, Ill., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced it will release fourth quarter and year-to-date 2024 earnings results after the market closes on Tuesday, January 21, 2025 and host a conference call on Wednesday, January 22, 2025 at 9:00 a.m. (CST). For individuals wanting to listen to a simultaneous audio-only web cast, this may be accessed at Webcast Link. Individuals interested in participating in the call by addressing questions ...

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Financial Data and Key Metrics Changes - The company reported net income of just over $170 million for Q3 2024 and record net income of just under $510 million for the first three quarters of the year, aligning with expectations [4] - Loans grew by $2.4 billion, with $1.3 billion acquired from Macatawa Bank and $1.1 billion in organic growth [5] - Deposits increased by over $3.4 billion, with $2.3 billion from Macatawa and $1.1 billion organically [5] - The net interest margin was stable at 3.51%, contributing to record net interest income of $503 million, up approximately $32 million from the previous quarter [7][14] Business Line Data and Key Metrics Changes - Organic loan growth was balanced across all material product categories, indicating a diverse asset-generating business [5] - Noninterest-bearing deposits increased by approximately $708 million, remaining stable at 21% of total deposits [11] - Noninterest income totaled $113.1 million, down approximately $8 million from the prior quarter, primarily due to unfavorable mortgage servicing rights activity [16] Market Data and Key Metrics Changes - Wintrust increased its deposit share in the Chicago MSA to 7.7%, while competitors like Chase and Bank of America lost deposit share [6] - The company experienced strong growth in its asset-based portfolio, which grew by $243 million [22] Company Strategy and Development Direction - The company is focused on disciplined credit management and maintaining a diversified asset portfolio to mitigate risks [22][33] - Integration activities related to the Macatawa acquisition are on target, with optimism about opportunities in West Michigan [30] - The company aims to build capital steadily while managing its capital ratios effectively [52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining a stable net interest margin and projected continued growth in net interest income [14][20] - The credit environment is stabilizing, with nonperforming loans remaining low and charge-offs decreasing [7][25] - The company is optimistic about loan growth in the fourth quarter, aligning with previous guidance of mid to high single-digit growth [22][36] Other Important Information - The company has consistently outperformed the KBW Regional Bank Index in total shareholder returns over various time periods [21] - Noninterest expenses totaled $360.7 million, up approximately $20.3 million from the second quarter, primarily due to Macatawa-related expenses [18] Q&A Session Summary Question: Can you talk more about the loan growth outlook and drivers? - Management highlighted a diversified asset portfolio as key to growth, with strong performance in various segments including C&I and CRE [31][33] Question: What is the expected provision for credit losses in the fourth quarter? - Management indicated that the provision would likely reflect mid to high single-digit growth, depending on macroeconomic conditions [36] Question: How has your deposit cost trended with the recent rate cut? - The company experienced a deposit beta in the mid-60s and anticipates similar trends on the way down, with confidence in maintaining spreads [40][41] Question: What are the plans for leveraging the Macatawa franchise? - Management expressed satisfaction with the existing team and plans to add resources as market opportunities arise [43] Question: Can you provide insights on the charge-offs in the C&I segment? - Charge-offs were primarily transportation-related, with management indicating a focus on managing these risks [46] Question: What is the expected growth in capital going forward? - The company plans to build capital steadily, with a CET1 ratio expected to reach around 10% by 2025 [52]

ROSEMONT, Ill, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced net income of $509.7 million or $7.67 per diluted common share for the first nine months of 2024 compared to net income of $499.1 million or $7.71 per diluted common share for the same period of 2023. Pre-tax, pre-provision income (non-GAAP) for the first nine months of 2024 totaled a record $778.1 million, compared to $751.3 million in the first nine months of ...

The market expects Wintrust Financial (WTFC) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 21, 2024, might help the stock move higher if these key ...

One bank that I have been following for a little while now is Wintrust Financial Corporation (NASDAQ: WTFC ). For those not familiar with it, it is a financial institution that operates mostly around the Chicago metropolitan area, parts of Southern Wisconsin, and Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ sto ...

ROSEMONT, Ill., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced it will release third quarter and year-to-date 2024 earnings results after the market closes on Monday, October 21, 2024 and host a conference call on Tuesday, October 22, 2024 at 10:00 a.m. (CDT). For individuals wanting to listen to a simultaneous audio-only web cast, this may be accessed at Webcast Link. Individuals interested in participating in the call by addressing questions t ...

ROSEMONT, Ill., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (Nasdaq: WTFC) today announced the appointment of Gina Stuart as its new SVP, Diversity, Equity, and Inclusion. Stuart brings more than 20 years of leadership experience in human resources, including regulatory and compliance, as well as diversity and inclusion. "We are thrilled to welcome Gina to Wintrust," said Tim Crane, President and CEO of Wintrust. "Given her wealth of experience as a strategic business partner and advoc ...

ROSEMONT, Ill., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced it has selected First Dollar to power health savings accounts, health flexible spending accounts, health reimbursement arrangements, and other employee benefit accounts. Wintrust will leverage First Dollar's best-in-class technology to enhance and elevate its consumer-directed health and lifestyle accounts portfolio for a fully integrated benefit experience aligned with the Wintrust s ...

ROSEMONT, Ill. and HOLLAND, Mich., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) and Macatawa Bank Corporation ("Macatawa") today jointly announced the completion of their previously announced merger whereby Wintrust acquired Macatawa in an all-stock transaction. Macatawa was the parent company of Macatawa Bank, which is headquartered in Holland, Michigan and operates a network of 26 full-service branches located throughout communities in Kent, Ottawa and north ...